Crown Financial, a Houston-based business funding provider, has increased client insight into AP factoring with the addition of their powerful tool, the invoice factoring calculator. Companies seeking working capital can easily calculate costs associated with factoring, making the process more transparent and the decision to factor their accounts receivable much easier.
While invoice factoring is not a loan, Crown Financial charges a small factoring rate when advancing invoice funds to their customers. Crown’s invoice factoring service is one of the most competitive in the industry as they save customers thousands by allowing a 2-week timespan between each rate assessment, compared to a 1% fee assessed weekly by their competitors.
With the addition of the invoice factoring calculator, customers can quickly see all fees associated with Crown’s factoring service, and compare those rates to other factoring companies. Requiring only 3 numbers - the invoice amount, invoice percentage advanced, and number of weeks until invoice is paid - the calculator quickly provides the customer with a crystal clear fee schedule and a preliminary factoring rate as low as 1.5%. The advantage of seeing all associated costs before making a decision to factor removes any pressure in the process and keeps the customer at ease knowing they decide if and when they are ready to move forward.
Crown’s loyalty and devotion to customer satisfaction is proven in the introduction of the calculator and clear fee schedule it computes. Financial account manager, Brandon Hooks said, “We’ll do anything we can to make the factoring process easier and more stress-free for our clients.” With low factoring fees, the no term contract, and high advance percentages, Crown’s factoring service is bar none. Add in the calculator and Crown has made a brilliant move for their business and their customers, shortening the factoring process, increasing customer trust, and converting many unhappy customers from other factoring companies.
